M&T Bank Corp. subsidiary Wilmington Trust Corp. is being investigated by federal entities for actions taken prior its acquisition by M&T, the Buffalo-based bank disclosed in a filing Tuesday.
The investigations involve the U.S. Securities and Exchange Commission and the Department of Justice, the bank states in the filing with the SEC. Both investigations began prior to M&T’s purchase of Wilmington Trust.
The acquisition was announced Nov. 1, 2010 and completed May 16, 2011.
The reviews are related to Wilmington Trust’s financial reporting and securities filings. The DOJ investigation also includes certain real estate lending relationships involving the Delaware company’s Wilmington Trust Co. bank subsidiary.
Either investigation could result in civil or criminal penalties or settlements, the filing states.
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